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Tag Archives: Financial Literacy

Providing Financial Literacy to the Unbanked

By Jason Alderman In today’s world of Internet banking, smartphone shopping apps, and web-based access to investment accounts, it’s easy to forget that billions of people around the world – including many millions in our own country – lag far behind when it comes to accessing even the most rudimentary financial management tools. Indeed, according to the World Bank’s Global Findex Database: Approximately 2.5 billion adults worldwide don’t have a …Read More

Using Comic Books to Teach Financial Literacy

By Jason Alderman For decades, millions of kids have faithfully followed the adventures of their favorite comic book superheroes like Spider-Man and the X-Men – sometimes well into adulthood. Although often considered pure escapism, comic books also can serve an educational role – whether it’s teaching the principles of science, demonstrating right vs. wrong, or even helping kids learn how to read. Personal financial management is one of those important, …Read More

Teaching Your Children The Value Of Money

The NFCC’s 2011 Financial Literacy Survey found that 42% of adults garnered most of their personal finance knowledge from their parents. Only about 1 in 10 adults learned about this subject at school or from a financial professional.  It is now more important than ever to make sure your children understand the basic concepts of financial awareness. The following steps can help arm children with smart financial skills that can …Read More

Father Knows Best- Or Does He?

As Father’s Day approaches, many dads begin reflecting on the life skills they’re teaching their children. Nice manners, discipline and a good work ethic top many lists. Not to be overlooked, however, are financial skills, because regardless of whether they are taught formally or by example, parents pass along their financial habits to their children. This concept is confirmed by NFCC’s 2011 Financial Literacy Survey in which the majority of respondents, …Read More

Financial Spring Cleaning Tip of the Day: Live Within Your Means

Simply put, don’t spend more than you make. To accomplish this, put the credit cards away. Many well-meaning people resort to living off of credit when facing a financial crisis, digging an even deeper financial hole. Instead, try living on a cash basis. People who do this typically spend 20 percent less, and they do it without feeling deprived. They buy what they want, but since their level of awareness …Read More

Financial Spring Cleaning Tip of the Day: Ask an Expert

If you don’t know where to start or you’re not sure what to keep or toss, consider contacting an NFCC Member Agency. From financial education to debt management services, NFCC’s nonprofit agencies have certified credit counselors who offer low-cost and free financial educational information, money and credit management advice, and debt reduction services. To locate an NFCC Member Agency in your area visit our website at www.DebtAdvice.org and click on …Read More

Financial Literacy: Teachable Moments Come At All Ages

I learned lots of valuable information in high school, but one subject that wasn’t on the curriculum was personal financial management. We didn’t learn how to balance a check book, why budgeting is important, or how credit card interest works, among other life lessons. Fast forward a couple of decades and technological advances have resulted in an exponential increase in financial products available to consumers, making financial decision-making all the …Read More

Tips For Making The Most Of Your Tax Refund

With tax day behind us, many consumers now find themselves counting down the days until the tax refund arrives in the mail, or is transferred into one’s account. According to Kiplinger.com, about 70 percent of all filers get tax refunds and are anticipating a tax refund averaging $2,200. Americans more than ever are choosing to efile and with more consumers filing their income taxes before April, the extra cash can’t …Read More

Florida Youngster Has Amazing Grasp of Money Skills

The level of financial responsibility demonstrated by Jordan Lane-Palmer, winner of the National Foundation for Credit Counseling’s (NFCC) 2011 National Financial Literacy Poster Contest, could be the envy of many adults. Lane-Palmer, a 9th grade student at A.W. Drewfoos Jr. School of the Arts in West Palm Beach, Florida was one of more than 1,800 students across the nation who submitted posters around the theme of “Be a $uperhero! $ave …Read More

Financial Literacy Survey Reveals Troubling Contradictions

The results of the National Foundation for Credit Counseling’s (NFCC) fifth annual Financial Literacy Survey released this week suggest some troubling contradictions. Reversing the trend witnessed over the past few years, 26 percent of U.S. adults now report that they are spending more than they did one year ago, shedding some of the more conservative spending habits they adopted during the recent recession. At the same time, more than two …Read More